Permanent residency in Cyprus by investment
A property purchase from €300,000 + VAT qualifies your whole family for indefinite permanent resident status. This page covers the requirements, the process and the full document list.
Key requirements for permanent residency
Four requirements the Migration Department checks: the investment, verified income earned outside Cyprus, the legal origin of the funds and a clean criminal record.
Investment from €300,000 + VAT
Purchase of new residential or commercial property in Cyprus. The investment may be split across one or several properties.
Proof of financial standing
Legal source of funds
Payment for the property is made by transferring funds from outside Cyprus directly to the seller's account.
Clean record
The applicant and all adult family members must provide certificates of no criminal record.
Proof of income is only required at the point of applying for permanent resident status.
How permanent residency is obtained
Buying the property and applying for status run in parallel. You come to Cyprus once — for biometrics, after the application has been approved.
Selecting and purchasing the property
The property purchase and the residency application run in parallel. Once an investment of €300,000 + VAT is made, the residency application can be submitted. We support you at every stage, from choosing the property to receiving the status.
Preparing the documents
We help you assemble the full set of documents and coordinate the application from start to finish.
Legal work
Handling all formalities: registration with the Land Registry, obtaining government approvals, and submitting the residency application.
Submitting biometric data
After approval, all family members must visit Cyprus within 12 months to submit biometric data. Registration takes place at the Migration Department of the Republic of Cyprus.
You do not have to live in Cyprus to keep the status — one visit at least every two years is enough.
Documents for the residency application
The full package for the MIP 1 form. Every document in English or Greek, duly certified and apostilled.
Completed MIP 1 application form
Passports of the applicant and family members included in the application
Marriage certificate
Children's birth certificates
Proof of study for children over 18 (if applicable)
CV of the main applicant
Original certificates of no criminal record for adult family members
Documents confirming ownership of the property
Declaration of no salaried employment in Cyprus
Valid health insurance (outpatient and inpatient care)
Confirmation of the transfer of investment funds from outside Cyprus
Confirmation of payment for the property and related costs
Documents confirming stable annual income earned outside Cyprus
All documents must be translated into English or Greek, and duly certified and apostilled in accordance with statutory requirements.
What you pay on top of the price
Four items that come on top of the contract price when you buy a property and apply for residency.
VAT
19%A reduced 5% rate applies to a first home for personal use, subject to area and value conditions.
Title transfer fee
0%Not payable when the transaction is subject to VAT — that is, on a new build bought from the developer.
Legal fees
≈1%Title check, contract, registration, representation under power of attorney.
Residency application fee
€500Plus €500 for each child over 18 included in the application.
These rates are indicative; a lawyer confirms them for each transaction, as much depends on the type of property, its size and who is included in the family.
Mortgages in Cyprus
A purchase can be part-financed by a Cypriot bank, with rates from 2.8% per annum. The bank checks your income and the source of your funds, then runs legal due diligence and an independent valuation of the property.
35%the share of verified income Cypriot banks usually cap the payment at
Fee breakdown
- Mortgage registration fee at the Land Registry — 1% of the loan—
- Assignment of the sale contract and registration with the Registrar of Companies—
- Property valuation—
- Life insurance — per year—
- Property insurance — per year—
- Lodging the sale contract with the Land Registry—
- Lawyer’s signature on the mortgage agreement—
- Bank fee for drawing up the mortgage agreement—
- Document certification by a Certifying Officer—
- Legal work on the mortgage agreement, alongside the bank—
If you buy through VIA Estate, we and our partner lawyers cover the legal work on the mortgage agreement and help with the paperwork. The figures are indicative: what you actually pay depends on the property, the loan terms, your profile as a borrower and the requirements of the bank you choose.
Documents for the preliminary credit assessment
- A residence permit and proof of permanent address
- Payslips for the last three months
- Form IR63 for the latest tax year — confirmation of income and tax paid (for Cyprus)
- A Social Insurance Statement — a record of contributions for the whole period of employment in Cyprus
- A current employment contract
- A translated credit report from your country of origin or residence, showing any credit commitments you already have
- Bank statements for the last six months, if your salary is not paid into the bank arranging the mortgage
- A fully completed and signed personal financial statement
Applicants living outside Cyprus provide the income, credit history and liability documents from their country of residence. The bank may ask for more, depending on the borrower’s profile.
Documents on the property
- A current copy of the Title Deed — no more than five years old
- A valid Planning Permission
- A valid Building Permission
- A certified set of architectural plans for the property
- A dimensioned floor plan stating the area of the property
- A certificate of the share of the plot attributable to the apartment
- A valid class A energy performance certificate
- A signed sale or reservation agreement
This information is provided for reference and guidance only and does not constitute a bank quote, financial advice or a guarantee that any rate will apply. Actual terms depend on the bank, the currency, the term, the amount and the client’s credit profile. Current lending parameters, applicable rates and any fees must be confirmed directly with the chosen bank in Cyprus.
The essentials, briefly
The six questions we are asked most often.
Do you have to live in Cyprus to keep permanent residency?
No. The status is indefinite; visiting the country at least once every two years is enough.
Does a resale property qualify?
No. Only new property bought from a developer counts — a first sale. The investment may be split across several properties.
Can you work in Cyprus on permanent residency?
The status does not grant the right to salaried employment — a declaration to that effect is part of the document package. You may, however, be a shareholder and director of your own Cyprus company and receive dividends.
Who can be included in the application?
A spouse and children under 18. Children aged 18–25 qualify if they are in full-time education and financially dependent; the income requirement increases accordingly.
Do you have to travel to Cyprus for the purchase?
The transaction can be completed under a power of attorney. One visit is mandatory — to submit biometric data after the application is approved.
How long does the whole process take?
Nine to twelve months from filing to status. The property purchase runs in parallel, not before filing.
Ready to take the next step?
Book a personal consultation — we will talk through your goals in Cyprus and put together a shortlist that matches them.